Marcos on 6.1% inflation: Admin on the right track in lowering prices of goods

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Marcos on 6.1% inflation: Admin on the right track in lowering prices of goods
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President Ferdinand 'Bongbong' Marcos Jr. said Tuesday that the slower inflation showed that the Marcos administration was on the right track in lowering the prices of goods.

President Ferdinand "Bongbong" Marcos Jr. said Tuesday that the slower inflation showed that the Marcos administration was on the right track in lowering the prices of goods.

"Unti-unti nating nakakamtan ang kaginhawaang ito sa pagbaba ng inflation rate sa apat na sunod-sunod na buwan at ngayong Mayo ay nasa 6.1% na. Tanda ito ng patuloy nating pagtahak sa tamang direksyon para sa mas abot-kayang presyo ng mga bilihin," he added."It would seem that we have started off in the right direction, on the right foot.

National Statistician and PSA chief Claire Dennis Mapa reported that inflation — the rate of increase in the prices of goods and services — slowed down to 6.1% last month from 6.6% in April, bringing the year-to-date rate to 7.5%. Year-on-year, however, the inflation print in May was still faster than the 5.4% rate seen in May 2022. Last month's inflation rate falls within the Bangko Sentral ng Pilipinas' forecast range of 5.8% to 6.6%.

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